The system's reaction to an event is called a(n) _______
a. system process
b. use case
c. activity
d. system requirement
b
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Temporary accounts accumulate information across accounting periods
Indicate whether the statement is true or false
Project penalty clauses that initiate at mutually agreed-on points in the project's development and implementation are:
A) Liquidated damages. B) Milestone adjustments. C) Contingency clauses. D) Penalty points.
George Butler owned a tugboat and was tired of his current job. He decided to open a business that provides day tugboat tours to tourists along the Mississippi River near his hometown. Prepare journal entries to record the following transactions.May 1 Butler invested $20,000 cash and his tugboat valued at $90,000 in the business in exchange for common stock.May 2 Butler paid $3,000 cash for office equipment to help him keep track of business activities.May 3 Butler bought boating supplies costing $2,500 on credit.May 4 Butler paid the river master $500 cash for the first month's dock rental.May 5 Butler paid $1,800 cash for a six-month insurance policy.May 10 Butler received $2,000 cash from clients for his first tour.May 12 Butler provided a $3,500 tour on credit, the customer
has agreed to pay within10 daysMay 19 Butler paid for the boating supplies originally purchased on May 3.May 22 Butler receives payment on the account from the client entry on May 12.May 25 Butler received $2,750 cash for additional tours that he completed that day.May 31 Butler paid his crew member a salary of $1,000.May 31 The company paid Butler, its sole stockholder, $2,000 for personal use. What will be an ideal response?
Beat Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 40,000Total fixed manufacturing overhead cost$344,000Variable manufacturing overhead per machine-hour$3.90Recently, Job M759 was completed. It required 60 machine-hours. The amount of overhead applied to Job M759 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $750 B. $984 C. $516 D. $234